TAIPEI (Taiwan News) — Exports surged by 29.2% year-on-year to reach a monthly record of US$39.65 billion (NT$1.11 trillion) in September, the Ministry of Finance (MOF) said Friday (Oct. 8).
Not only was this the 15th consecutive monthly improvement, it was also the seventh month in a row that the export bump reached double figures, CNA reported. According to MOF, the continued global recovery in the wake of the COVID-19 pandemic, the demand for electronics, rising prices for raw materials, and adjustments in global supply chains were responsible for the growth.
Taiwan’s exports for the period from Jan. 2021 through September totaled US$324.07 billion, a jump of 30.7% from the same period in 2020. Imports totaled US$276.39 billion for January-September 2021, an increase of 33.3% year-on-year.
As a result, Taiwan’s trade surplus reached US$47.68 billion for the first nine months of the year, or US$6.97 billion more than for the same period in 2020, MOF said.